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New Retail Starts Now Disclaimer NEW RETAIL STARTS NOW DISCLAIMER his presentation does not constitute or form This presentation includes statements that are, The information and opinions contained in this T part of and should not be construed as an or may be deemed to be, “forward- looking document are provided as at the date of this advertisement of securities, an offer or statements”, with respect to the financial presentation and are subject to change invitation to sell or issue or the solicitation of condition, results, operations and businesses of without notice. Some of the information an offer to buy or acquire or subscribe for X5 Retail Group N.V. These forward-looking is still in draft form and neither X5 Retail securities of X5 Retail Group N.V. or any of its statements can be identified by the fact that Group N.V. nor any other party is under any subsidiaries or any depositary receipts they do not only relate to historical or current duty to update or inform recipients of this representing such securities in any events. presentation of any changes to such jurisdiction or an invitation or inducement to information or opinions. In particular, it engage in investment activity in relation Forward-looking statements often use words should be noted that some of the financial thereto. In particular, this presentation does such as” anticipate”, “target”, “expect”, information relating to X5 Retail Group not constitute an advertisement or an offer “estimate”, “intend”, “expected”, “plan”, “goal” N.V. and its subsidiaries contained in this of securities in the Russian Federation. believe”, or other words of similar meaning. document has not been audited and in By their nature, forward-looking statements some cases is based on management No part of this presentation, nor the fact of its involve risk and uncertainty because they relate information and estimates. distribution, should form the basis of, or be to future events and circumstances, a number relied on in connection with, any contract or of which are beyond X5 Retail Group N.V’s Neither X5 Retail Group N.V. nor any of its commitment or investment decision control. As a result, X5 Retail Group N.V’s agents, employees or advisors intend or whatsoever. actual future results may differ materially from have any duty or obligation to supplement, amend, update or revise any of the No representation, warranty or undertaking, the plans, goals and expectations set out in statements contained in this presentation. express or implied, is given by or on behalf of these forward- looking statements. X5 Retail X5 Retail Group N.V. or any of its directors, Group N.V. assumes no responsibility to update officers, employees, shareholders, affiliates, any of the forward looking statements contained advisers, representatives or any other person in this presentation. as to, and no reliance should be placed on, the fairness, accuracy, completeness or For Russian law purposes, the securities correctness of the information or the opinions mentioned in this presentation (the contained herein or any other material "Securities") represent foreign securities. discussed at the presentation. Neither X5 No prospectus for the issue of the Securities has Retail Group N.V. nor any of its directors, been or is intended to be registered with the officers, employees, shareholders, affiliates, Central Bank of the Russian Federation. The advisors, representatives or any other person information provided in this presentation is not shall have any liability whatsoever (in intended to advertise or facilitate the offer of negligence or otherwise) for any loss the Securities in the territory of the Russian howsoever arising from any use of this Federation. This presentation does not presentation or any other material discussed at represent an offer to acquire the Securities or the presentation or their contents or otherwise an invitation to make offers to acquire the arising in connection with the presentation. Securities. 2 I. HIGHLIGHTS 3 OUR MISSION AND GOALS To become the most valuable company in the eyes of customers, employees, and shareholders, which means: Shareholder Customer recognition Employee recognition + = recognition Retail sales and NPS High engagement leadership Focus on strategic KPIs Net retail sales Employee turnover Market capitalisation LFL Engagement ROIC Price perception Dividends NPS Valuation multiples 4 STRATEGIC HIGHLIGHTS . Market leader in Russian food retail, 12.8% market share in 12M 2020 . Strategy is aimed at maintaining leadership . X5 is a multi-format retailer with focus on two largest segments of the Russian food retail - proximity and supermarkets . Balanced approach to expansion . Fast growth of online supermarket; express delivery in pilot stage . Constant adaptation of value proposition to Russian consumers’ changing needs and current macro environment, including expansion of fresh assortment, widening local assortment, development of loyalty programmes . Significant investments in logistics and transport: in the last 3 years X5 opened 11 DCs and currently operates 43 DCs . adding new links in the value chain and operating a fleet of 4,128 owned trucks as of 30 June 2021 . Development and implementation of the Big Data strategy based on loyalty cards information . Focus on innovation, digitalization and automation of business processes . Dividend policy since September 2017 . 2020 dividend RUB 50.0 bln / RUB 184.13 per GDR, which represents 127.6% of net profit under IAS 17 5 KEY RESULTS Q2 2021 . 10.7% revenue growth at . 7.4% YoY selling space growth in Q2 2021 (10.4% net retail in Q2 2021 (+336 new stores sales growth in Q2 2021) added, net) . 4.0% LFL sales growth . 20% of X5 stores operate in new in Q2 2021 concept as of Q2 2021 (new CVP launched in 2019) . 8.3% adj. EBITDA margin . +12.9% YoY loyal in Q2 2021 customers; 62.9 mln active loyalty card users as of 30 Jun 2021, across formats . 96% of net store additions in Q2 . 1.68x Net debt / EBITDA as 2021 was organic growth of 30 June 2021 . 96% of net store additions in lease . 57.6 thousand daily . +105.7% digital sales in Q2 online orders in Q2 2021, 2021, contributed 1.1 p.p. to up 2.9 times YoY sales growth rate *Customers who made at least one purchase during the last quarter 6 Source: X5 data X5 VS. RUSSIAN FOOD RETAIL IN TOP-LINE GROWTH 28% 28% 25% 23% 20% 21% 18% 21% 19% 18% 19% 13% 14% 12% 11% 14% 9% 10% 10% 9% 9% 8% 9% 8% 10% 6% 7% 7% 5% 7% 8% 7% 4% 4% 2% 5% 2% 3% 2% 2% 2012 2013 2014 2015 2016 2017 2018 2019 2020 H1 2021 X5 y-o-y revenue growth Top-10 Market Food CPI Source: Infoline, X5 analysis Starting from 2015, X5 has constantly outperformed the market and competition 7 OUR COMPETITIVE ADVANTAGES 1 Strong brands 2 Effective omni-channel operating model 3 Growing loyalty programme 4 Developed backbone infrastructure 5 Strong leadership team 6 Strong corporate governance and ESG 8 X5 MULTI-FORMAT OFFER Pyaterochka Perekrestok Chizhik Perekrestok Vprok Format Proximity store Supermarket Hard discounter FMCG marketplace Price [Low] – [Mid] [Mid] – [Mid+] [Low] – [Mid-] [Mid-] – [Mid] segment Medium choice of Wide choice of food Primary food offer Hypermarket Assortment food products, products, wide range assortment: the ready-to-eat food of ready-to-eat food widest choice of food and non-food products Offline (physical) Offline (physical) Offline (physical) Online stock up Sales stores, express stores, click & collect, stores, express delivery channels delivery express delivery delivery Online express delivery 9 KEY BENEFITS OF FOOD RETAIL MARKET LEADERSHIP . Market leaders tend to have significant impact on how the market develops, and other players follow . Leaders often set the predominant market pricing strategy, which serves as the benchmark for other players to adapt to . Strong position to influence consumer behavior and shopping habits . Leaders enjoy better financing and vendor supply terms relative to competition . Overall competitive advantages support higher profitability and ROI X5 aims to increase its leadership as Russia’s #1 food retailer: 15% market share target in 2023 in offline, 20% in online 10 EVOLUTION OF RUSSIAN FOOD RETAIL MARKET 2020 2030E Retail Food Market Retail Food Market: (incl. HoReCa): RUB 28.1 trn RUB 17.5 trn +RUB 10.6 trn (4.8% CAGR) 80.5% - Offline 92.9% - Offline food retail food retail 0.9% - Online 10.1% - Online food retail food retail 4.1% - Offline ready-to-eat segment 2.1% - Online ready- to-eat segment 6.8% - Offline ready- to-eat segment 2.7% - Online ready-to- eat segment Source: Infoline Online food and ready-to-eat will attract new customers from traditional retail 11 RUSSIAN FOOD RETAIL MARKET TRENDS NON-PRICE ELEMENTS GAIN IMPORTANCE What clients % of respondents giving positive answer expect from retail? 2012 2018 2023 Price/ -7 p.p. -3 p.p. Quality 60% 53% 50% +4 p.p. Convenience +9 p.p. 45% 32% 36% Assortment +3 p.p. +5 p.p. 32% 35% 40% Pleasant +5 p.p. +7 p.p. atmosphere 30% 18% 23% +15 p.p. Sustainable 30% n/a 15% approach Source: Ipsos, X5 data 12 X5 REGIONAL PRESENSE X5 today . Multi-format presence in seven Federal Districts . Total stores – 18,295, including: ― 17,268 Pyaterochka stores ― 968 Perekrestok supermarkets ― 40 Karusel hypermarkets North North Format Unit Southern Central Volga Ural Siberian Total Caucasus Western 340 1,751 6,295 4,591 1,792 1,537 962 17,268 Number of 9 57 537 142 148 75 - 968 stores, # 1 1 24 10 4 - - 40 Net retail sales 1.2% 7.0% 48.1% 19.0% 13.8% 7.5% 3.4% 100% (Q2 2021), % Source: X5 data 13 X5 DISTRIBUTION CAPABILITIES Warehouse space as of 30 June 2021 Space, Federal district # of DCs th.
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